Bank of Valletta is to reduce its carbon footprint by around 105,000 kilogrammes of carbon dioxide through a sustainable energy project that will see some 300 photo-voltaic roof panels installed at 16 branches.

Collectively, the project will make up one of the largest PV panel farms on the island and will generate around 350 units of electricity every day. A comprehensive study of all branches identified the most suitable locations to install PV panels. The investment is part of the bank’s ongoing effort to reduce its utilities consumption, improve waste management through reduction and recycling and reduce emissions from its vehicle fleet.

“This is the second initiative undertaken by the bank this year to decrease its electricity demand on the national grid,” green manager Mark Marmara explained. “The reduction of 700 light fittings at the bank’s head office and the installation of motion-sensitive lighting in areas with less ‘traffic’ are already saving the environment 55,000kg of CO2 emissions.”

Mr Marmara said the bank will be constantly monitoring the panels’ output to ensure maximum efficiency with a view to increase the number of panels in its bid to become carbon neutral.